Skip to comments.New information emerges on SEC Playboy probe of gun control group treasurer
Posted on 12/14/2012 6:23:48 AM PST by marktwain
New details are emerging on a former Illinois state senator and treasurer for the Illinois Council Against Handgun Violence, under investigation by the Securities and Exchange Commission for insider trading of Playboy Enterprises stocks based on information he obtained from his wife, Daily Finance reported yesterday, citing transcripts obtained by Bloomberg News related to charges initially announced in August, 2011. William Marovitz, now separated from former Playboy CEO and progressive activist Christie Hefner, was secretly trading Playboy stock based on inside information he gleaned from their relationship, the report claims, gaining profits and avoiding losses using personal brokerage accounts, allegedly unbeknownst to his wife and in direct contravention of legal advice from Playboys general counsel.
Marovitz, a Chicago Democrat, was elected to the Illinois Statehouse and Senate for multiple terms. His Huffington Post biography asserts he was the leading proponent for tough gun control legislation in Illinois and recently received the Distinguished Service Award from the Illinois Council Against Handgun Violence.
He sponsored virtually every piece of gun control legislation in Illinois from 1975 to 1992, the biography continues. He was proud to be the number one target of the NRA in every one of his elections. In particular, long before it became popular, he was the first to propose a law requiring trigger locks on all hand guns where there were children available to gain access.
In the Senate, he passed legislation to ban semi-automatic assault weapons, the account continues. As a means of keeping guns out of the hands of criminals, he wrote and passed Illinois Instant Check law --- mandating criminal background checks before giving anyone the right to purchase a gun.
(Excerpt) Read more at examiner.com ...
Given the sorry financial state of Playboy, I am amazed that even a crook like a gun control freak could scam money from such stock.
But, as people will be people, so too crooks will be crooks, I suppose.
The Criminals and the Power Hungry require confiscation of weapons as priority #1.